Nov 24 2010
Savant Explorations Ltd. (TSX VENTURE:SVT) has announced that infill sampling of core from the First Phase Drill Program on the Parbec Project included revised intersections consisting of 1.82 gpt gold over 39.6 metres at an average vertical depth of 270 metres (including 28.8 gpt gold over 1.5 metres) and an intercept of 2.28 gpt gold over 12.4 metres at an average vertical depth of 320 metres (including 5.7 gpt gold over 3 metres).
The Parbec Project is located along the Cadillac Break, 20 kilometres southeast of the Cadillac Gold Camp, and 5 kilometres west and along strike from the historic Malartic Gold Camp where Osisko Mining is currently developing a large open pit on the Canadian Malartic Gold Project.
The most significant revised intersections occur in drill-hole Par-10-05 located 200 metres southeast and along strike from earlier released drill-hole Par-10-08 which encountered similar broad gold mineralization in altered porphyry intrusive and adjacent sheared ultramafic rocks grading 1.37 gpt gold over 28.6 metres (including 16.2 gpt gold over 1.5 metres) at an average vertical depth of approximately 60 metres. This broad zone of gold mineralization associated with intrusive rocks also occurs in drill-hole Par-10-02 (1.0 gpt gold over 8.5 metres), located 600 metres to the northwest of hole Par-10-05.
The gold mineralization in both drill-holes Par-10-05 and Par-10-08 is open to depth. Historical drill-holes between these holes, with a single exception, were, as in the case of Savant's initial sampling, selectively assayed. The one historical drill-hole that was entirely sampled has a reported intersection of 0.6 gpt over 18 metres. Unfortunately, no drill core remains from the earlier drilling that can be sampled and these holes will have to be re-drilled.
Drilling Update
Savant's eight (8) drill-hole drill program totalling 4,005 metres was completed on July 9, 2010. Analytical results for all eight drill-holes have now been received and reported upon.
Jack McClintock, President and CEO of Savant commented, "Our initial drilling program was designed as a reconnaissance test of the property with a series of 200 metre spaced drill-holes to search for high-grade Lapa style mineralization. We are very pleased that 3 of the 8 holes have intersected significant gold grades over significant thicknesses as well as discovering widespread low-grade gold mineralization near surface."
Savant can acquire a 100% interest in the Parbec Property under a four year option agreement with Globex Mining Enterprises Inc.
John McClintock, P.Eng., President and CEO of Savant is the Qualified Person, as defined by National Instrument 43-101, responsible for the technical data in this news release.
Source: Savant Explorations Ltd.